California man sells 'funky, old' prototype Nike shoes for $50,000

Aug. 16 (UPI) -- A California man got $50,000 for his "funky, old shoes" that happened to be a pair of extremely rare prototype Nike running shoes from 1972.

Dave Russell of Sacramento said the shoes, now known as the Nike Waffle Racing Moon Shoes, were given to him at age 25 when he participated in the 1972 Olympic trials in Eugene, Ore.

Only 12 of the prototype shoes designed by Nike co-founder Bill Bowerman were ever made, and 10 were given to athletes trying out for the Olympic team.

"They were very unorthodox shoes. They were very exotic because the sole was completely different. It was made on a waffle iron. It was glued to the bottom of the shoe. The shoe was completely handmade," Russell told KTXL-TV.

Russell said the shoes spent years in a box in his garage, next to the Christmas lights. He said he only decided to sell them a few months ago, and received an offer from The Graduate Eugene Hotel, which is building a Nike museum in Eugene.

"They wanted something that would say, 'This is Nike town," Russell said. "And here are these shoes that were a prototype before Nike was even a public shoe."

He said he knew the shoes were worth some money, but he was shocked to receive such a large sum for his "funky, old shoes."